U.S. Bancorp $USB Shares Sold by MetLife Investment Management LLC

Key Points

• MetLife Investment Management LLC has reduced its stake in U.S. Bancorp by 1.9%, now owning 405,169 shares valued at approximately $17 million.
• Several hedge funds have diversified their positions in U.S. Bancorp, with some increasing their stakes significantly; for instance, Cornerstone Planning Group LLC grew its position by 118%.
• U.S. Bancorp reported earnings of $1.11 per share for the last quarter, beating analysts' expectations, and has a current dividend yield of 4.1%.

MetLife Investment Management LLC reduced its stake in U.S. Bancorp (NYSE:USB - Free Report) by 1.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 405,169 shares of the financial services provider's stock after selling 7,731 shares during the period. MetLife Investment Management LLC's holdings in U.S. Bancorp were worth $17,106,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in U.S. Bancorp by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider's stock valued at $5,962,742,000 after acquiring an additional 2,393,383 shares in the last quarter. Northern Trust Corp grew its position in U.S. Bancorp by 10.9% in the 4th quarter. Northern Trust Corp now owns 17,050,568 shares of the financial services provider's stock valued at $815,529,000 after acquiring an additional 1,670,305 shares in the last quarter. Davis Selected Advisers grew its position in U.S. Bancorp by 3.6% in the 1st quarter. Davis Selected Advisers now owns 14,889,014 shares of the financial services provider's stock valued at $628,614,000 after acquiring an additional 513,875 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in U.S. Bancorp by 11.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,574,919 shares of the financial services provider's stock valued at $601,458,000 after acquiring an additional 1,339,493 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in U.S. Bancorp by 10.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider's stock worth $464,953,000 after purchasing an additional 1,045,509 shares during the period. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Raymond James Financial raised U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and boosted their price objective for the stock from $51.00 to $57.00 in a research report on Monday, July 7th. DA Davidson increased their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the company a "buy" rating in a report on Monday, July 21st. Oppenheimer increased their price objective on U.S. Bancorp from $66.00 to $67.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Wall Street Zen upgraded shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Finally, Truist Financial lifted their price objective on shares of U.S. Bancorp from $48.00 to $50.00 and gave the company a "hold" rating in a research report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of "Moderate Buy" and an average target price of $52.55.

U.S. Bancorp Price Performance

U.S. Bancorp stock traded up $0.20 during midday trading on Friday, reaching $48.87. 12,056,390 shares of the company were exchanged, compared to its average volume of 10,536,979. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $76.05 billion, a price-to-earnings ratio of 11.69, a P/E/G ratio of 1.53 and a beta of 1.01. The firm's 50-day simple moving average is $46.14 and its 200-day simple moving average is $43.86. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, beating the consensus estimate of $1.07 by $0.04. The company had revenue of $7.06 billion during the quarter, compared to analysts' expectations of $7.07 billion. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%.The firm's revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.98 EPS. U.S. Bancorp has set its FY 2025 guidance at EPS. On average, analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.1%. U.S. Bancorp's payout ratio is presently 47.85%.

Insider Activity

In other news, EVP Souheil Badran sold 23,727 shares of the business's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the completion of the sale, the executive vice president owned 70,346 shares in the company, valued at approximately $3,259,833.64. The trade was a 25.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.23% of the company's stock.

U.S. Bancorp Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.